【World Property Journal】Next U.S. Recession Will Likely Begin in 2020, Says Economists

"Housing slowdowns have been a major component, if not catalyst, for economic recessions in the past, but that won't be the case the next time around, primarily because housing will have worked out its kinks ahead of time," said Skylar Olsen, Zillow director of economic research. "Housing markets across the country are already heading into a potential correction a solid year before the overall economy is expected to experience the same. The current housing slowdown is in some ways a return to balance that will help increase the resiliency of the housing market when the next recession does arrive." 

But even if a housing slowdown isn't the cause of the recession, the housing market will likely feel the impact. Just over half of the panelists (51%) expect home buying demand will be somewhat or significantly lower in 2020 compared with 2019, while only 17% say it will increase. Homes will likely stay on the market longer and bidding wars will become less common. - in 2011, it took just over 17 weeks to sell a home, compared with just under 11 weeks to close on a sale in 2018. The final sale price also was further below the listed price throughout the Great Recession, hovering near 91% of the original price in early 2011. Now, homes sell for about 98% of the asking price.
 

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